Styrenix Performance Materials Ltd

Styrenix Performance Materials Ltd – Trading window closed from Oct 01, 2026 in connection with the unaudited financial results for the Second quarter / half year ended Sep 30, 2026; The trading window shall be opened 48 (Forty-Eight) hours after the said results of the Company are declared and disseminated to the Stock Exchanges.

Filing Status

• Authority: Assessment Unit, Income Tax Department.
• Order under IT Act sections 143(3), 144C(13), 144B issued for AY 2023-24.
• Amount demanded: INR 1,92,58,290.
• Date of receipt: September 24, 2026.
• Impact: no material impact on financial position or operations.
• Company will file an appeal before Appellate Authorities within the timeline.

Meeting Details

• Date and time: September 21, 2026, 3:00 PM onwards.
• Type and mode: one-to-one, virtual.
• Organizer: Styrenix Performance Materials Limited.

Participants

• Company officials from Styrenix to participate.

Purpose

• Purpose: investor/analyst discussions based on publicly available information.

Additional Notes

• No UPSI will be discussed.

Meeting Details

• Date and time: September 17, 2026, 11:00 AM onwards.
• Type and mode: one-to-one in-person meeting.
• Organiser/event: Analyst/Institutional Investor meeting.
• Key company participants: company officials attending; names not disclosed.
• Purpose: discussions based on publicly available information; UPSI not discussed.

Meeting Details

• Date: September 10, 2026
• Time: 12:00 PM onwards
• Type: Group meeting
• Mode: Virtual

Participants

• Company officials to participate (no specific names provided)

Purpose

• Discussion will be based on publicly available information

AGM details and outcomes

• AGM held on 27-08-2026, 11:30–11:58 AM, via VC/OAVM.
• Record date 20-08-2026; on-record shareholders: 48,007.
• Remote e-voting open 19–26 Aug; unblocked 27 Aug 12:17 PM.
• Resolutions passed: three ordinary resolutions.
• Resolution 1: Adoption of financial statements; outcome: passed.
• Resolution 2: Re-appointment of Vishal Rakesh Agrawal; outcome: passed.
• Resolution 3: Ratification of remuneration to Cost Auditors; outcome: passed.
• Total votes polled: 10,718,455; in favour: 10,718,343; against: 112.
• Resolution 1 passed with 99.999% in favour.
• Resolution 2 passed with 89.28% in favour.
• Resolution 3 passed with 99.997% in favour.
• Attendance: 1 promoter group and 55 public attended.
• Scrutinizer report submitted; e-votes unblocked at 12:17 PM.

AGM Details

• Date and mode: Aug 27, 2026, via VC/OAVM.
• Start and end times: 11:30 a.m. to 11:58 a.m. IST.
• Chairman: Mr. Rakesh Agrawal; all directors attended via VC.
• Scrutinizer appointed: Devesh Pathak, Practising Company Secretary.
• Electronic voting facility available; results to be disseminated.

Key Resolutions

• Ordinary Business 1: Adopt Audited Standalone and Consolidated Financial Statements with reports.
• Ordinary Business 2: Re-appointment of Vishal Rakesh Agrawal as director liable to retire by rotation.
• Special Business 3: Ratification of remuneration to Cost Auditors for FY 2026-27.

Voting Outcomes

• Ordinary Resolution 1: Outcome not disclosed in filing.
• Ordinary Resolution 2: Outcome not disclosed in filing.
• Special Resolution 3: Outcome not disclosed in filing.

Financial Performance

• Total income stand-alone: INR 770.5 crores; up 6.6% YoY.
• EBITDA stand-alone: INR 201.4 crores; up 133.9%.
• EBITDA margin stand-alone: 26.1%, up 1420 bps.
• PAT stand-alone: INR 137.3 crores; up 150.3%.
• PAT margin stand-alone: 17.8%, up 1023 bps.
• Consolidated total income: INR 1,014.2 crores.
• Consolidated EBITDA: INR 223.6 crores; margin 22%.
• Consolidated PAT: INR 138.3 crores; margin 13.6%.
• Consolidated volume: 50.8 KT.
• Standalone volume: 38.9 KT; down 26% YoY.

Demand and Market Dynamics

• Market uncertainties from macro conditions and geopolitics persisted.
• Non-OEM demand declined more than OEM.
• Total polymer volumes declined around 15-25%, depending on segment.
• OEM ABS share around 70% or higher; non-OEM softer.
• Import data not publicly shared; no significant variance last quarter.
• Thailand costs higher; volumes subdued; capex progress.
• Strategy remains dynamic; procure raw materials sensibly; meet demand amid volatility.

Capex and Projects

• ABS expansion is online; completion planned accordingly.
• SAN capacity about 100,000 tonnes; merchant sales continue.
• SAN annual volume close to 15,000–20,000 tonnes sold; largely in-house.
• ABS expansion capex ongoing; capacities expanded across rubber, SAN, and compounding.
• Thailand expansion of 50,000 tonnes; timing within financial year.
• Capex plan remains on track; capital-allocation aligned with growth; returns to shareholders.
• ABS expansion commissioning timing not disclosed; environment remains volatile.

Inventory and Working Capital

• Finished goods inventory roughly unchanged.
• RM inventory higher; sourcing shifted to alternate styrene sources.
• Lead times 10–15 days longer; due to sourcing shifts.
• Prices of styrene, acrylonitrile, butadiene volatile; range moving.
• ABS expansion online; SAN not impacted.

Guidance and Q&A Highlights

• No formal volume guidance; management does not provide ABS-year volume targets.
• Normalization expected over time; caution on margin expansion due to volatility.
• Thailand volumes may improve gradually; focus on safety and reliability.
• Capex timing not specified; commissioning timing uncertain.
• Capital allocation balances growth capex with shareholder returns.